Gold Spot / U.S. DollarUpdated Gold perspective Short and Long
Gold has been consolidating for a long time in this particular area, which makes me anticipate a down trend as a trap for investors. However, I believe that this temporary dip will eventually reverse, and we might see the price of gold climb back up to the zone of $2,000. Both could be seen as a trap for investors who are hoping to make a profit from gold in the short term.
Note
As we can observe, the price of gold is currently following our analysis, as we predicted a downtrend trap which is currently unfolding. It is possible that the price may reverse from its current level in the 1910 zone or at a lower level in the 1890 zone, ultimately reaching the highest imbalance in the 1990 zone. Thus, it is advisable to refrain from selling positions before the price reaches the inducement level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.